Cut one side of your cereal box. Each box will make two puzzles so save that other side.
Apply your picture to the non-patterned (brown) side of the cereal box with Mod Podge. Use a medium layer of Mod Podge, place the picture down, and smooth thoroughly with your fingers or a brayer. If any Mod Podge squeezes out the sides, wipe it away with a brush.
Let dry for 15 – 20 minutes, then apply a layer of Mod Podge over the top. Let dry.
Turn your cardboard over and apply your scrapbook paper to the backside with more Mod Podge. It should be a relatively thick piece of scrapbook paper so that it covers the cereal box pattern. If the scrapbook paper is thin, you might want to consider painting the cereal box white before applying the paper. Whichever method you choose, allow to dry completely.
Cut off excess cardboard and scrapbook paper around the edges.
Using a Sharpie or something you can see, trace an outline of puzzle pieces on the picture. A pencil would work too.
Cut out each piece with an X-Acto knife. Scissors are easier, but not as accurate.
Print out a smaller sized print of the same picture onto a shipping label and apply it to the front of a Ziploc bag.
Place all pieces into the Ziploc bag for safe storage.
Video
Notes
I had all of the materials on hand, so this project did not cost me anything to make.